Kayne Anderson Rudnick Investment Management LLC Grows Stake in Artisan Partners Asset Management Inc. (NYSE:APAM)

Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 2.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,626,937 shares of the asset manager’s stock after acquiring an additional 160,297 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 8.25% of Artisan Partners Asset Management worth $273,494,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of APAM. Mather Group LLC. bought a new stake in Artisan Partners Asset Management during the 1st quarter valued at about $26,000. Quadrant Capital Group LLC increased its position in shares of Artisan Partners Asset Management by 70.3% during the fourth quarter. Quadrant Capital Group LLC now owns 642 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 265 shares in the last quarter. Principal Securities Inc. purchased a new position in Artisan Partners Asset Management in the 4th quarter worth approximately $31,000. MCF Advisors LLC bought a new position in Artisan Partners Asset Management in the 1st quarter valued at approximately $31,000. Finally, GAMMA Investing LLC boosted its stake in Artisan Partners Asset Management by 81.5% during the 2nd quarter. GAMMA Investing LLC now owns 775 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 348 shares during the last quarter. Hedge funds and other institutional investors own 86.45% of the company’s stock.

Artisan Partners Asset Management Price Performance

NYSE APAM opened at $42.68 on Friday. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 13.01 and a beta of 1.79. Artisan Partners Asset Management Inc. has a 1-year low of $32.12 and a 1-year high of $46.75. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.71. The business’s fifty day moving average price is $41.23 and its 200-day moving average price is $42.43.

Artisan Partners Asset Management (NYSE:APAM) last announced its earnings results on Tuesday, July 23rd. The asset manager reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.05). Artisan Partners Asset Management had a return on equity of 71.76% and a net margin of 22.75%. The firm had revenue of $270.80 million during the quarter, compared to analysts’ expectations of $274.70 million. During the same period in the previous year, the business posted $0.71 earnings per share. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities analysts predict that Artisan Partners Asset Management Inc. will post 3.36 earnings per share for the current year.

Artisan Partners Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 6.65%. This is a positive change from Artisan Partners Asset Management’s previous quarterly dividend of $0.61. The ex-dividend date was Friday, August 16th. Artisan Partners Asset Management’s payout ratio is 86.59%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on APAM shares. StockNews.com downgraded Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Royal Bank of Canada restated an “outperform” rating and set a $50.00 target price on shares of Artisan Partners Asset Management in a research note on Monday, July 29th. Finally, TD Cowen lifted their price target on shares of Artisan Partners Asset Management from $38.00 to $39.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th.

Artisan Partners Asset Management Profile

Artisan Partners Asset Management Inc is publicly owned investment manager. It provides its services to pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. funds, as well as mutual funds, non-U.S. funds and collective trusts.